Hank; RE:"What is your thinking if DELL closes lower..."
The Daily candlesticks could be thought of as the sum of multiple, intra-day candlesticks. Weekly candlesticks are like the sum of 5 daily candles, right? In my limited experience with these Japanese techniques, I have found that daily candlesticks do a remarkable job or predicting the open for the next day - after that, one should use intra-day candlesticks. There are two places I know of on the WWWeb that have intra-day candlesticks...
quote.com
iqc.com
DELL opened up, which is what we both thought that she would do. Then, the market began to sell off around 10:00 EST. When the NAZ-100 got back to even, I bought-to-close my covered DELL calls.
Too soon! DELL was holding on until CPQ just freakin' tanked. Then, the market itself just went to hell in a handbasket. IMHO, the markets are driving the stocks right now, rather than the other way around. Until they find a footing (a re-test of the panic lows is now ineveitable), conversation about individual stocks is irrelevant. I mean, besides bondz, what's going UP ?
So yeah man, That Doji came and went (^_^) ...we be looking at that 73~75 panic support right now. And I for one, am gonna be damn tempted to buy DLQLP DELL DEC 80 CALLS if DELL goes under 75.
-Steve |
